Shutterstock, the £1.4 billion ($2.2 billion) picture agency that
specialises in generic stock photos, just a signed a major deal
that could see it directly rival Getty Images.

Shutterstock is now partnering with the owner of Hollywood trade magazine
Variety, Penske Media Corporation (PMC),
to distribute images and video from events such as the
Academy Awards, Cannes and fashion shows.

This is a huge deal, as
previously Shutterstock mainly concentrated on stock imagery,
while images from entertainment events and with famous people can
carry a premium. PMC will still retain the ownership of the
images while Shutterstock will sell them to its 1.3 million
customers.